“We are also
using this opportunity to formalize support of our employees for their
volunteer activities in the community. For our shareholders, the
financial outlook for the larger company is bright.”

With the transaction finalized, the combined Howard team will
immediately begin to implement tactical plans for the successful
integration of the former First Mariner’s staff, branches, and systems.
The combined organization, which will conduct business under the Howard
Bank name, will operate 21 locations in the Greater Baltimore
Metropolitan Area. New signage will be installed immediately at all
First Mariner branch and mortgage locations to reflect the integrated
Howard Bank and the resulting greater presence in the region.

Howard Bancorp, the parent of Howard Bank, will relocate its corporate
headquarters from Ellicott City, Md., to First Mariner’s headquarters in
Baltimore City, Md. As a result of the merger, the relocation and a
strong history of both organic growth and prior acquisitions, Howard
Bank is now the largest bank based in Baltimore. This acquisition brings
and retains approximately 160 employees in the city.

“We are excited to expand our internal and external communities by
welcoming the First Mariner investors, its customers, and its team,”
said Mary Ann Scully, Howard Bank’s Chairman and Chief Executive
Officer. “The combination of our two banks creates a uniquely winning
proposition for our customers, prospective customers and centers of
influence in Baltimore’s business community. With the doubling of the
shared focus on small and medium-sized businesses, the shared expertise
and the commitment of our local policy makers who are exclusively
focused on this marketplace, we can achieve the best of both, strong and
local, for the businesses that shape the fabric of this region. Expanded
product sets, higher lending limits and larger customer facing staffs
will allow us to build the best business bank in the region.”

Robert Kunisch, the Chief Executive Officer of First Mariner, who will
join the Howard and Howard Bank boards of directors and assume the role
of President of Howard and Howard Bank, added, “We see an incredible
opportunity to continue to build Howard Bank into an institution that is
unmatched in serving the Baltimore region’s business community. The
combination provides more lending muscle and an energized team that will
have a positive impact on businesses throughout the region.”

The transaction enables Howard Bank to expand benefits, training and
advancement opportunities and access to share ownership for all
continuing employees. It also provides Howard Bank with the scale to
increase its combined community philanthropy budget notably over the
levels previously committed.

“The expanded philanthropy budget will allow us to place a special focus
on partnering with local not-for-profit organizations on both workforce
development activities for young and displaced adults and expanding
access to the arts in stressed communities,” Scully said. “We are also
using this opportunity to formalize support of our employees for their
volunteer activities in the community. For our shareholders, the
financial outlook for the larger company is bright.”

For Howard, this milestone transaction follows 2017, which was a year in
which the institution organically grew assets by 12% to $1.15 billion,
total loans by 14% to $937 million, total commercial loans by 21% to
$360 million, total deposits by 7% to $864 million, and total common
shareholders’ equity by 53% to $132 million.

With the addition of First Mariner, Howard expects to have pro forma
assets of $2.1 billion, pro forma loans of $1.6 billion and pro forma
deposits of $1.6 billion, based on year-end financial data from 2017.

“This is certainly a transformational deal for us as a company, for the
employees who at the end of the day are our strongest differentiator,
and for our individual and commercial customers,” said Scully, who will
continue as Chair and Chief Executive Officer of Howard and Howard Bank.
“But we are just as thrilled about what this combination is going to
mean for the communities that we serve which are geographically
clustered around Baltimore from Annapolis and Columbia to Bel Air and
Elkton.”

About Howard Bancorp, Inc.

Howard Bancorp, Inc. is the parent company of Howard Bank, a
Maryland-chartered trust company operating as a commercial bank.
Headquartered in Baltimore, Maryland, Howard Bank operates a general
commercial banking business through its 21 branches located throughout
the Greater Baltimore Metropolitan Area. It had consolidated assets of
approximately $1.15 billion at December 31, 2017, and as noted above,
expects to have approximately $2.1 billion in assets with this merger.
Additional information about Howard Bancorp, Inc. and Howard Bank is
available on the company’s web site at www.howardbank.com.

Forward-Looking Statement Disclaimer

This press release contains estimates, predictions, opinions,
projections and other "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended (the “Securities
Act”), and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). Forward-looking statements often use words
such as “anticipate,” “believe,” “contemplate,” “estimate,” “expect,”
“forecast,” “intend,” “may,” “plan,” “project,” “should,” “will,” or
other words of similar meaning. You can also identify them by the fact
that they do not relate strictly to historical or current facts. Such
statements include, without limitation, references to Howard's beliefs,
plans, objectives, goals, expectations, anticipations, assumptions,
estimates, intentions and future performance, including our growth
strategy and expansion plans, including potential acquisitions.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may be beyond our control, and
which may cause our actual results, performance or achievements to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements.

In addition to factors previously disclosed in Howard’s reports filed
with the U.S. Securities and Exchange Commission (the "SEC"), the
following factors among others, could cause actual results to differ
materially from forward-looking statements or historical performance:
difficulties and delays in integrating the First Mariner business or
fully realizing cost savings and other benefits of the merger; business
disruption following the merger; changes in asset quality and credit
risk; the inability to sustain revenue and earnings growth; customer
acceptance of First Mariner products and services; customer
disintermediation; the introduction, withdrawal, success and timing of
business initiatives; the inability to realize cost savings or revenues
or to implement integration plans and other consequences associated with
mergers, acquisitions and divestitures; the impact, extent and timing of
technological changes, capital management activities, and other actions
of the Federal Reserve Board and legislative and regulatory actions and
reforms.

Annualized, pro forma, projected and estimated numbers are used for
illustrative purpose only, are not forecasts and may not reflect actual
results.

ELLICOTT CITY, Md.--(EON: Enhanced Online News)--Howard Bancorp, Inc. (Nasdaq:HBMD) (“Howard”) announced today that it has received all of the requisite regulatory approvals to finalize its acquisi... more »